Your exit planning journey

Exit Planning Starts Today: A Practical Guide for Small Business Owners

Are you thinking about the future of your small business and wondering how to begin your exit planning journey? You’re not alone. Many small business owners delay exit planning because they’re unsure where to start or assume it’s something to deal with later. However, with the right guidance from an experienced exit planning and succession advisor accountant, you can create a clear plan that protects your legacy, maximises value, and ensures a smooth transition.

A well-structured exit plan doesn’t just prepare you for selling or transitioning your business — it often improves profitability, reduces risk, and strengthens your business long before you exit.

What Is Exit Planning?

Exit planning is the strategic process of preparing your business and personal affairs for an eventual sale, succession, or transition of ownership.

It involves a mixture of Financial planning and business valuations Your plan should address issues such as:

• Tax and legal structuring
• Identifying buyers or successors
• Succession planning and leadership transition
• Personal readiness and retirement planning

Effective exit planning ensures your business is transferable, attractive to buyers, and aligned with your long-term financial goals. It is why a good strategy is recommended together with an succession advisor who guide you through the ins and outs of selling your business.

Why Exit Planning Is Critical for Small Businesses

Exit planning is especially important for small business owners because, in many cases, the business represents the majority of their personal wealth. Without a structured exit plan your business value may be lower than expected. Those owners who don’t plan often regret the outcome after exiting.

In fact, studies show that 75% of business owners regret their exit within one year, while only 5% are satisfied with their net proceeds. Early planning with a trusted exit planning advisor accountant significantly improves outcomes.

Key Elements of a Successful succession Plan

1. Business Valuation and Value Drivers

Understanding the true value of your business is the foundation of exit planning. This includes analysing financial performance, operational systems, customer concentration, and growth potential.Many owners discover opportunities to increase value before selling. A Value Builder Report can highlight areas where targeted improvements can significantly enhance future sale value.

2. Choosing the Right Exit Planning Advisor

Exit planning is complex and requires specialist expertise. Working with an experienced exit planning and succession advisor accountant ensures all financial, tax, legal, and personal factors are aligned. Geoff Gartly has helped small business owners grow, transition, and exit their businesses successfully. As a Certified Exit Planning Advisor (CEPA), he provides practical, structured guidance tailored to small business owners.

3. Creating an Exit Planning Timeline

An effective exit plan includes a clear timeline with milestones such as:

• Preparing financials and systems
• Improving business value
• Identifying successors or buyers
• Negotiating terms
• Managing tax and legal outcomes

Your timeline should be realistic, flexible, and aligned with market conditions.

4. Preparing for a Smooth Transition

A successful exit is about more than the transaction. It requires Leadership and management transition. Vitally important is Employee and customer communication. Clear communication and planning minimise disruption and protect business continuity.

Personal Readiness: Are You Ready to Exit?

Exit planning isn’t only about the business — it’s also about you.

Many owners underestimate how emotionally, and financially challenging exiting can be. Tools such as the PREScore™ (Personal Readiness to Exit Score) help assess how prepared you are for life after business ownership.

Common Exit Planning Mistakes to Avoid

• Overestimating business value
• Failing to plan early enough
• Choosing the wrong advisor
• Ignoring tax and legal implications
• Neglecting personal financial needs post-exit

Avoiding these mistakes significantly increases the likelihood of a successful exit.

Your planning for business starts today

Exit planning is not a one-off event — it’s a journey.

By working with an experienced exit planning and succession advisor accountant, assessing your business value, creating a realistic timeline, and preparing for transition, you can exit on your terms with confidence. Whether your exit is three years away or ten, the best time to start exit planning is today.